BP CEO Bob Dudley says Saudi may rethink IPO

Saudi Arabia could be tempted to reconsider the timing of what is actually likely to be the biggest-ever initial public offering (IPO) later This particular year, BP CEO Bob Dudley told CNBC on Tuesday.

Indecision at the highest levels of Saudi Arabia’s government is actually reportedly playing a major role in holding up the planned flotation of the globe’s largest oil producer.

Saudi Aramco, currently a private company owned by the government in Riyadh, is actually aiming for an IPO of which could raise about $100 billion in addition to also also attract a valuation inside range of $1 trillion to $2 trillion later This particular year. yet the process has dragged on as key aspects of the share sale remain unsettled.